Author: AmyWang Source: @AmyWang2010
In the recent Space event with the theme "The Depth of Love, the Severity of Responsibility, What's Going on with Ethereum?", several research bloggers delved into the problems that Ethereum has faced in the past and the present, engaging in a systematic discussion around Ethereum. Crypto researcher AmyWang shares her thoughts after attending the event.
Thank you for participating in this exchange and discussion. The following is a review and summary of the content from yesterday, outlining the main concerns and discussion points regarding the Ethereum ecosystem:
Core Points of Contention
1. Fragmented Liquidity and Stagnant Mainnet Experience
Currently, the liquidity on the Ethereum mainnet is dispersed, and the user experience has stagnated, leading to a trend of user attrition.
The key to this problem lies in: Can dozens to hundreds of L2s truly achieve scalability? When will the feedback from L2 to L1 begin, and how will it be realized?
2. Disconnect between Technological Innovation and Real-world Needs
The technology innovations led by the Foundation have gradually become disconnected from actual needs, even leading to phenomena of "feudal land division" and the exploitation of relationships, resulting in bad money driving out good.
Current Industry Phenomena and the Limitations of the VC Model
We have long discussed the current industry phenomena: our opposition is not to VC itself, but to the repetitive basic infrastructure construction and the stacking of new concepts, which, under the guidance of rapid financing and listing, have placed users in a disadvantageous position. Users have to bear high gas fees, but ultimately cannot obtain corresponding experience improvements, leading to their gradual attrition:
Startups are oriented towards the Foundation and exchanges, with financing and listing as the goal, making users the supporters of data and paying fees, ultimately receiving an unaffordable BTC.
The initial proposal of the Ethereum manifesto was widely questioned and ridiculed. Although from a technical perspective,
calldataas a way to write text content into the block annotation field is rough and simple, this attempt also reveals another possibility of the blockchain: Do users need to pay the cost of unnecessary on-chain computation? Is there a better low-cost scaling path?
Questioning the L2 Model
In my view, some L2 models that require 24-hour settlement or even contain backdoors have created a false TVL prosperity through volume manipulation, but have lost the core advantages and original intentions of the blockchain. More importantly, the mainnet scaling relying on a large number of L2 couplings currently appears unsustainable:
Relying on faith to sustain interests is difficult to maintain in the face of real interests.
How to Evaluate the Pros and Cons of Mainnet Scaling Solutions?
Borrowing the four evaluation criteria for the Bitcoin ecosystem proposed by @weihaoming, we can define the basic requirements for Ethereum scaling solutions:
Contain Native Technological Innovation: Including technical breakthroughs in mainnet asset issuance and scaling.
Inherit Mainnet Security: No bridges, no backdoors, no multi-signature privileges, and cannot be shut down.
Empower the ETH Economic Model: Bring a deflationary effect to the mainnet ETH.
Reduce User Usage Threshold: Low cost, seamless migration, and universal interoperable interfaces.
Possible Future Scaling
Under last year's manifesto wave, the Ethereum eths community has experienced a year of accumulation and growth, supporting the founding team through direct donations and Gitcoin donations, exploring the path of scaling without departing from the mainnet.
For example, the birth of the http://facet.org platform follows the above four standards: a public goods scaling solution without team token issuance, no airdrops, and no reservations, launched solely with community support. Can such a scaling solution bring new possibilities to the current Ethereum? We shall wait and see.
